Cement News tagged under: Middle East
Qatar National Cement reports dip in sales in 1Q2424 April 2024, Published under Cement NewsQatar National Cement Co has reported sales of QAR106.06m (US$29.14m) in the first quarter of 2024, ended 31 March. This compares to QAR127.95m in the same period a year earlier. Net income came in at QAR51.37m, down from the QAR64.1m seen in the opening quarter of 2023. Basic earnings per share from continuing operations stood at QAR0.08 in the 1Q24, compared to QAR0.10 in the year-ago period, reports Market Screener. |
Mastek to optimise Yanbu Cement's new production line24 April 2024, Published under Cement NewsMastek announced that it has won the multi-tower deal from Yanbu Cement Co (YCC) to optimise the efficiency of YCC's production line. YCC is investing in a digital and cloud modernisation with Mastek, aligning with Saudi Arabia's Vision 2030 and Smart Industry 4.0 initiatives. Following the execution of multiple back office and Enterprise Resource Planning (ERP) transformation programs in the first phase initiated in 2022, Mastek will kick-off the second phase, focussing on automating YCC... |
RHI Consultancy is awarded a contract with SESCO for Amreyah Cement23 April 2024, Published under Cement NewsOn its 20th anniversary, Reliance Heavy Industries (RHI) has been awarded a consultancy contract with SESCO Cement for the upgrade of Amreyah Cement Co Line 2. The RHI team will provide its comprehensive expertise in consulting services, including project management, engineering review, site supervision throughout the construction and commissioning phases, plant PGT, and finally handing over from the nominated turnkey contractor to the renowned owner. RHI is proud of its cooperation wi... |
Iranian cement exports rise 12% in under two years16 April 2024, Published under Cement NewsThe head of Iran’s Cement Industry Producers Association, Ali-Akbar Alvandian, said on Saturday that the country had exported 10.5Mt of cement in the first nine months of the Iranian calendar year 1402 (21 March-21 December 2023). He added, that in the previous year, 13Mt of cement had been exported. Alvandian noted that Iran produces about 90Mta, 60Mta of which is consumed domestically. Moreover, cement production in the country has grown 12 per cent since Ebrahim Raisi came to power in... |
Decarb in Dubai10 April 2024, Published under Cement NewsCemtech’s annual meeting for the Middle East & Africa saw the regional industry gather once again in Dubai at the stunning Sofitel Dubai The Obelisk on 18-21 February 2024. The event offered delegates from over 40 countries two days of insightful presentations and discussions, networking and broad exploration of decarbonisation technologies. Cemtech MEA examined different aspects of decarbonisation technologies through lively but skillfully-moderated panel (© Cemtech) C e... |
Strong growth in Iran cement despite risks10 April 2024, Published under Cement NewsIranian cement consumption rose 15.2 per cent YoY in February 2024 to 4.93Mt, up from 4.28Mt, according to the Iranian cement association. Producers manufactured 5.13Mt of cement and 5.04Mt of clinker in February, an increase of 11.8 and 18.9 per cent, respectively, when compared with February 2023. A total of 0.93Mt of cement and clinker was exported in February, with cement exports decreasing 11.1per cent YoY to 0.32Mt and clinker exports dropping 37.1 per cent YoY to 0.61Mt. January-Fe... |
City and Umm Al-Qura Cement agree to date extension of swap deal09 April 2024, Published under Cement NewsCity Cement Co last week announced an update at the Saudi Stock Exchange (Tadawul) regarding extending a non-binding Memorandum of Understanding (MoU) concerning a securities swap deal with Umm Al-Qura Cement Co. Accordingly, it has been agreed with Umm Al-Qura Cement Co to extend this memorandum with the same previous terms and conditions for an additional six months from the date of expiration of the extension of the MoU. The extension is due to complete the necessary procedures to ... |
Fujairah Cement reports sales drop in 202327 March 2024, Published under Cement NewsUAE-based Fujairah Cement Industries has reported sales of AED343.81m (US$93.62m) in 2023. This marks a contraction from the AED374.58m seen in the previous year. The company has also recorded a net loss of AED265.53m in 2023, compared to the loss of AED143.85m in 2022, while the basic loss per share from continuing operations came in at AED0.74 in 2023, versus a loss of AED0.40/share in the previous year. |
Al Jouf Cement records 20% revenue advance25 March 2024, Published under Cement NewsAl Jouf Cement has reported revenue of SAR301.49m (US$80.4m) in 2023, up 19.7 per cent on the previous year. According to the company, the increase is due to improved sales volumes and average selling prices. The cement producer has also reported lower production costs backed by continued operating efficiency efforts. Operating income in 2023 came in at SAR115.83m, marking a YoY advance of 59.1 per cent. In the fourth quarter of 2023, revenue stood at SAR83.74m, up 5.4 per cent on the ... |
Northern Region Cement reports 50% drop in net profit in 202325 March 2024, Published under Cement NewsSaudi Arabia-based Northern Region Cement Co saw a 11.6 per cent increase in revenue to SAR689.55m in 2023 from SAR617.95m in 2022. However, net profits were down by 49.9 per cent YoY to SAR556.39 in 2023 from SAR112.45m. In the nine-month period ended on 30 September 2023, the net profits after zakat and tax reached SAR64.7m, down 14.6 per cent YoY from SAR75.72m. |